17 Nov 2010capital raising announcement▲ GoodMajor
The company sold 1,065,000 shares on November 12, 2010 for $1,065,000 and 150,000 shares on November 15 for $150,000 to accredited investors, with demand registration rights on the 1,215,000 shares. The November 12 amount includes $500,000 of debentures converted into 500,000 shares. Sales commissions were 8% ($85,200 and $12,000), plus about $31,000 of related expenses on the first sale. This is the first equity raised under the John Thomas Financial offering shown in the filings, though the text does not name JTF as the placement agent for these sales. The $500,000 conversion ties to the August 2010 debentures.